Jack’s Garage took place during the Singapore Airlines Singapore Grand Prix 2024. - Photo: Brown-Forman
PETALING JAYA: In terms of viewership, the 2023 season drew in an average of 1.11 million viewers per race, Statista reports with the average weekend attendance for races totalling over 270,000 spectators.
With the 2024 and 2025 seasons expanded to 24 races those figures are anticipated to rise significantly.
In terms of reach and exposure, Formula One and its extended IPs provide ample marketing opportunities.
Through sponsorship engagements brands not only gain an association to the sport, but they can also leverage off marketable touch points to engage a wider consumer base.
With increased presence in international markets like the United States and the Middle East as well as a growing fan base spurred on by programmes such as “Drive to Survive”, the fervour behind Formula One shows no signs of slowing down.
This was emphatically proven on Nov 15 when tickets to the sport’s first-ever collective launch event taking place at London’s O2 arena in February sold out within an hour.
Driving interest
The marketing potentiality of the sport hasn’t gone unnoticed by some of the world’s biggest brands. Next year will see KitKat become the “Official Chocolate Bar of Formula One” thanks to a landmark deal inked between Nestlé and Formula 1 on Nov 11.
Additionally as the racing series prepares to celebrate its 75th anniversary in 2025, luxury conglomerate LVMH announced a 10-year agreement to become a “Global Partner of Formula 1” effective next year.
As part of the deal, several of LVMH’s iconic Maisons will be involved in the partnership, including Louis Vuitton, Moët Hennessy and TAG Heuer.
According to sports marketing agency RTR Sports there were 275 sponsorship deals for the 2023 Formula One season. This includes brands from across a wide range of industries and segments. Last year saw Jack Daniel’s join the McLaren Formula 1 Team as one of its official partners.
The multi-year partnership saw the whiskey brand enter the premiere motorsport series for the first time in its history.
Speaking on the sponsorship, Colton Payne, marketing director – Asia, Brown-Forman elaborated that the spirits brand was looking for opportunities to engage with existing and new consumers across the globe.
“We’re intimately involved in music and we were looking for another passion point that could cut across cultures and country lines and sport was an area that afforded that possibility,” said Payne.
The partnership between the spirits brand and McLaren encompasses branding on the nose of the racecar as well as partnership programmes, fringe events along with other co-brand collaborations such as limited edition collaborative bottles.
Accelerating experiences
With 24 races this year, brands like Jack Daniel’s also gain an advantage of visibility in reaching consumers across different continents.
According to Payne, this includes activations both on and off track at some of the races.
“Beyond that we use content and advertising to promote our partnership with the team and the sport around the region, country leading up to these events,” added Payne.
However he also said that these initiatives also vary extensively according to each race, especially as there are different regulations involved for some of these markets.
“As a global brand we are always mindful and respectful of the laws in every market that we operate in. But we do believe that the impact extends far beyond the track.”
In some of the main cities the brand is extensively represented through premise partnerships in bars, restaurants and exclusive events marketed around the pillars of racing, music and drinks.
Payne elaborated this is because the brand wants to bring that correlation to more consumers in Formula One.
This is especially for those who aren’t able to attend a race.
In Singapore, for instance, during the recent Grand Prix in September, the brand launched Jack’s Garage. The one-night only event took place at VUE Bar on Sept 22, the day of the race.
It not only featured exclusive aerial views of the Marina Bay Street Circuit but also featured music and entertainment as well as signature beverages inspired by the team, interactive games and race car simulators.
Betting on a winner
Signing the deal in 2022, Jack Daniel’s along with other McLaren co-sponsors are enjoying the fruitful and successful partnership. In 2022 the racing team placed fifth in the constructor’s championship and fourth in 2023. This year, the team is currently leading the title race for the constructors.
“I think it’s safe to say, we are very pleased and how it is going so far,” Payne said with a smile.
“McLaren have been excellent partners and we’ve done a lot to lean into the partnership and activate around the world.
“Together we’ve helped raise more interest and bring more consumers into the fold into the world of McLaren and Jack Daniels and to build some great experiences around that.”
With the surge up the ranks in the world of Formula One, the question remains – will the team’s sponsorship go up if they manage to claim the constructors’ championship?
Payne doesn’t discount the fact but he is quick to admit that Jack Daniel’s is positive about continuing their partnership.
“As with every asset rising in value, as partners we are extremely proud to see the team performing so well. Looking back to when we signed, we knew they could and would.
“McLaren was committed to performance and development and we are seeing that pay off now,” said Payne.
